The PCAOB begins notifying approximately 5,200 public companies and 3,300 mutual funds of what it will charge them each year in support of the board's accounting oversight activities (www.pcaobus.org/pcaob_news_8-04-03.asp).

The PCAOB begins notifying approximately 5,200 public companies and 3,300 mutual funds of what it will charge them each year in support of the board's accounting oversight activities (www.pcaobus.org/pcaob_news_ 8-04-03.asp). Generally, what each company must pay corresponds to its average monthly capitalization, but those companies whose average monthly market capitalization does not exceed $25 million or mutual funds with an average monthly net asset value or market capitalization no greater than $250 million have no fees due. About 62% of stock issuers will pay no more than $1,000 in such fees to the PCAOB each year, and the largest 1,000 issuers will pay roughly 87% of the total due. The board also receives SEC approval of its $68 million budget for 2003.